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July 02, 2023
LTC trades at $110.91 after gaining $3.55 (3.3%).
Litecoin has just crossed its upper Bollinger Band® at $110.06, suggesting further gains could be on the cards. Although LTC is appreciating today after rising as high as $112.22, price action is now slowing and consolidating around $1.35 below the $109.56 resistance level. In contrast, although up today, early price action saw LTC dropping below its 3 day Simple Moving Average at $98.55 — an early indicator that a new downward trend could be emerging. First developed in 1978, the relative strength index (RSI) is a momentum oscillator that measures both the speed and rate of change in price movements within a market — measured as a 0-100 index. In LTC's case, the RSI has fallen below 30, indicating the asset is oversold.
According to technical analysis, it looks as if LTC likely to continue pointing upward in the short term.
Litecoin shows positive signs, other assets are also on par: having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
At the same time, after ending today's session at $0.786, EOS lost $0.036 and is trading around $0.75. Algorand USD closed at $0.123 (down 3.59%).
3 days ago LTC reached a significant high of $108.66 but has consequently lost 1.19% since then. Litecoin is currently trading with a market cap of 8.13 billion with an average daily volume of 684.29 million.
